New Delhi, June 11 (IANS) India’s listed auto ancillary sector has nearly tripled its revenues to about Rs 5 lakh crore over the past decade, an 11 per cent compound annual growth rate (CAGR) during FY16-26, a report said on Thursday.The report from Equirus Securities forecasted the sector to remain on a strong growth trajectory, with a 21 per cent profit CAGR during FY26-28, supported by rising vehicle content, premiumisation trends, export opportunities and growing adoption of electric vehicle…
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Seoul, June 9 (IANS) The South Korean economy grew at the fastest pace in more than five years in the first quarter, supported by strong exports and solid domestic demand, central bank data showed on Tuesday.The real gross domestic product (GDP) rose 1.8 percent in the January-March period from the previous quarter, 0.1 percentage point higher than the earlier estimate, according to preliminary data from the Bank of Korea (BOK), reports Yonhap news agency.The reading marked the strongest quarter…
New Delhi, June 8 (IANS) Commerce Minister Piyush Goyal on Monday said India’s 7.7 per cent GDP growth reflected sustained policy interventions and economic reforms undertaken by the government over the past decade, which have ensured that the country remains the fastest-growing economy. “I don’t think any of you would have imagined that last year would close with a GDP growth of 7.7 per cent. This is not an accident, it is a decade of structural reforms,” he said.The minister launched the BHAVY…
Mumbai, June 5 (IANS) The Reserve Bank of India (RBI) on Friday projected real GDP growth for 2026-27 at 6.6 per cent — with Q1 at 6.6 per cent; Q2 at 6.3 per cent; Q3 at 6.5 per cent; and Q4 at 6.8 per cent — saying that prolonged global supply chain disruptions, volatility in global financial markets, and weather-related shocks continue to pose downside risks to the domestic growth outlook.India’s manufacturing and services PMI suggest that both sectors continue to be resilient, and busine…
New Delhi, June 1 (IANS) Leading automobile firm Hyundai Motor India Ltd (HMIL) on Monday said that a fire at its supplier-operated manufacturing facility in Tamil Nadu will temporarily disrupt its production, according to an exchange filing.Hyundai said the fire broke out on May 31 at Mobis’ facility in Irrungattukottai in Kancheepuram district.The facility supplies audio components and other automotive parts to Hyundai. No fatalities were reported in the incident, the statement added.Hyundai s…
Mumbai, June 1 (IANS) Leading automobile companies continued to report healthy sales momentum in May, with Hyundai Motor India Ltd (HMIL) and Mahindra & Mahindra (M&M) posting growth in domestic sales amid sustained demand, according to data released on Monday.HMIL reported domestic sales of 47,837 units in May, a 9.1 per cent year-on-year growth. Including exports of 13,300 units, the company’s total sales stood at 61,137 units, a 4.1 per cent growth compared to the same period last y…
Seoul, June 1 (IANS) South Korea’s exports surged 53 per cent from a year earlier to a new monthly high of $87.8 billion in May, driven by the semiconductor supercycle, government data showed on Monday.It marked the third consecutive month the country’s outbound shipments surpassed the $80 billion mark, according to the Ministry of Trade, Industry and Resources.Imports rose 20.8 percent on-year to $60.8 billion, resulting in a trade surplus of $26.95 billion, reports Yonhap news agency.The combi…
Mumbai, May 25 (IANS) Union Finance Minister Nirmala Sitharaman on Monday said that standard products cannot serve non-standard businesses as the minister urged the Small Industries Development Bank of India (SIDBI) to redesign lending models according to the unique business cycles of MSMEs and startups.Addressing an event here, the Finance Minister said SIDBI’s role must expand beyond that of a lender to becoming a market maker and risk-sharing partner for India’s MSME ecosystem.“SIDBI’s …
New Delhi, May 6 (IANS) India’s manufacturing sector reported sustained growth and rising optimism in Q4 FY26 even as input costs climbed, a report said on Wednesday. The report from FICCI said that its Manufacturing Survey found 93 per cent of respondents saying production was higher or flat, compared to 91 per cent in the previous quarter.This optimism was also evident in domestic demand, as 89 per cent of respondents anticipated higher or same orders in Q4 FY 2026 compared to the previous q…
New Delhi, May 6 (IANS) Indian companies have lined up investments worth over $20.5 billion across sectors such as technology, manufacturing and pharmaceuticals in the United States, US Ambassador to India, Sergio Gor, said on Wednesday, describing the momentum as a direct outcome of President Donald Trump’s economic leadership.In a post on social media platform X, the envoy said that 12 Indian companies announced fresh investments worth $1.1 billion in a single day, adding to a growing pipeline…